Money SA economy
The South African rand tracked a weaker euro in the morning session on Tuesday amid profit taking on the single currency.
At 08.58am the rand was bid at R7.43 to the dollar from R7.38 at its previous close. It was bid at R10.09 to the euro and R11.12 to the pound.
The euro was bid at $1.3604 from $1.3618 previously.
A local trader said: "The rand initially broke 10.09 against the euro, down to 10.06, but has since come back above 10.09 again and it is quite an important number."
"The euro is a bit weaker this morning, and if rand gets consistently above 7.39 against the dollar, we should see 7.48," the trader said.
Dow Jones Newswires meanwhile reported the euro fell against the dollar and the yen in Asia on Tuesday as speculators took profits before a key US-Greece meeting later in the day, while weak UK housing data sent sterling broadly lower.
The pound suffered from data released in Asian time by the Royal Institution of Chartered Surveyors showing that in February, the proportion of surveyors reporting a rise in UK house prices exceeded the proportion reporting a fall by 17 percentage points.
